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LG Exposes Their First Shortlisted Startups For Its LG Nova Incubator
Korean technology giant LG makes everything from televisions (they announced some new ones at CES), washing machines and fridges, to, well, it’ll probably take less time to list the things they don’t get involved in. It shouldn’t come as a surprise that the company has a robust interest in innovation, then, and LG Nova is its relatively new North American Innovation Center. Based out of Santa Clara in Silicon Valley, California, the LG business unit is finding new and interesting ways to work with startups to further LGs mission in some of its core growth areas.At the consumer electronics show (CES) in Las Vegas, the company announced the first companies that have made it onto its shortlist for working with the electronics giant.
The startups have a few traits in common, highlighting and reinforcing some of the focus areas for the company’s innovation areas.LG Nova is aiming to be the center of the Venn diagram of the entire startup ecosystem, including the startups, of course. It wants to unite this with LG’s own strengths and advantages, including the wider investor landscape, big tech, academia, the entrepreneur community and LG’s own sales and marketing channels, where appropriate.
The current program LG Nova is running is the Mission for the Future challenge, which is essentially a filtration system to find the most promising entrepreneurs and startups who can work with LG’s entrepreneurs in residence to help create businesses within the LG ecosystem. Mission for the Future is LG Nova’s nine-month annual challenge program created to seek the best ideas, concepts and businesses worldwide that will improve quality of life in a smarter, healthier, more-connected future. The first big theme for LG in this space is connected health, with a particular focus on doubling down on healthcare focused on healthcare to meet people’s wellness needs at healthcare facilities, in their homes or through services in that space.
LG Nova announced its first two shortlisted companies as XR Health, which offers VR treatment rooms for telehealth services, and Maya MD, which is a digital AI health assistant that leverages LG’s televisions to encourage customers into active conversations about their health.The metaverse is the second broad category where LG Nova is paying particular attention, in what appears to be a more broad exploration of how people and machines can connect in new interaction modalities.
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